Gazprom agrees to pay more for Turkmenistan gas: company

0 Comments | AFP, July, 2008

MOSCOW (AFP) — Russian gas giant Gazprom has signed an agreement with Turkmenistan raising the price it pays for gas from the Central Asian nation starting in 2009, a company spokesman told AFP on Friday.

"There will be a price increase from next year, but for now I can not specify the exact amount," the spokesman said.

The agreement was signed after a visit to Turkmenistan by Gazprom chief executive Alexei Miller, the company said in a statement.

The deal establishes "the principle of market-based price formation in the framework of long-term gas purchases in Turkmenistan," Miller said in the statement, calling it a "significant step" for the two sides.

Turkmenistan has previously called for Gazprom to pay market prices for its gas, asking for more...